New stock pricing | Boqi Intelligence received a subscription of 10.69 times, priced at HK$1.08 per share

Futu News, July 14th, announced that on Thursday this week...$BOARDWARE INTEL (01204.HK)$Announcement: the company issues 0.125 billion shares priced at HK$1.08 per share, with a minimum trading unit of 2000 shares, expected to be listed on July 15th.

During the public offering stage, Bowi Wisdom received 10.69 times oversubscription, and the final number of shares allocated to the public offering was 12.5 million shares, accounting for approximately 10% of the total shares offered (before any exercise of oversubscription rights). A total of 6721 valid applications were received, with a pro-rata allocation rate of 30.01%, with one hand in stable subscription for every 20 hands.

In addition, the international offering has been oversubscribed, and the final number of shares offered is approximately 0.1125 billion shares, equivalent to approximately 90% of the total shares offered (before any exercise of oversubscription rights). Futu News has compiled the relevant data in the following table:

In terms of fundraising purposes, the company will net approximately HKD 0.094 billion from the global offering for the following purposes: 30.4% for the preliminary costs (excluding employee costs) of two enterprise IT solution projects; approximately 43.8% for capturing business opportunities in the Greater Bay Area; approximately 15.8% for enhancing the company's product development capabilities; approximately 10.0% for working capital and general corporate purposes.

The company is headquartered in Macau, China and is a leading company in the Macau market for IT solutions. In addition, the company is engaged in the distribution and resale of hardware and software.

The company's customer base includes globally renowned enterprises or institutions in the telecommunications, media and technology, gambling and hotel sectors, as well as government departments.

According to Frost Sullivan data, based on revenue, the company ranked first in Macau's IT solutions market in 2021, with a market share of 25.8%.

In terms of finance, in the fiscal years 2019-2021, the company achieved revenues of HKD 0.503 billion, HKD 0.475 billion, and HKD 0.534 billion respectively, with net profits of HKD 25.22 million, HKD 29.858 million, and HKD 24.003 million respectively.

In terms of the industry, driven by the increasing application of information technology and digitization across all industries in Macau, the IT solutions market grew from MOP 1.637 billion in 2016 to MOP 1.951 billion in 2019, with a compound annual growth rate of 6.03%.

Although the IT solution market in Macau experienced a decline in 2020 due to the outbreak of COVID-19, the market is expected to recover following Macau's continuous acceleration of business innovation and digital transformation. The market size is expected to increase from 1.931 billion Macau dollars in 2022 to 2.653 billion Macau dollars in 2026, with a compound annual growth rate of 8.3%.

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